![]() Robert was the first to make an offer, offering Mikey $100,000 for 50% of the business. He explained that he was still making the tags himself and that he needed additional funding so that he could scale his business from making a hundred or so units a day to thousands. This is because he only sent a “starter pack” to stores where customers could sample the product and pay in advance to secure the order.Īfter seeing how well Mikey was doing by himself already, the sharks questioned why he was in the Shark Tank. Mikey also revealed that while he was in a lot of brick and mortar stores already, his pre-sale costs were effectively zero. He revealed that each tag cost him $2.99 to make and ship, but he sold them for $19.99 with free shipping with a lead time of 5 days after the customer placed their order.Īt the time, Mikey had built SiliDog from the ground up and reached sales of $142,000 in 14 months, with the majority of his customers coming from trade shows. ![]() From there, Mikey managed to get SiliDog tags in 200 family-owned pet stores while he was pursuing his master’s degree in business.Įntering the Shark Tank with Bentley, Mikey impressed all the big-time entrepreneurs with his profit margin. At the same time, Mikey made the first batch of SiliDog tags to glow-in-the-dark and resist fading. Of course, Mikey knew that a silent pet tag wasn’t enough to sell the product, it had to be durable and attractive as well. To secure funding, Mikey went to Kickstarter, where he was able to raise $11,000 from almost 250 backers. This problem led him to create a silent alternative that wouldn’t make any noise at all while the dog was scratching, walking, or eating out of a dog bowl. He first got the idea after his rescue dog’s metal tags kept clinking all night due it his excessive scratching, keeping Mikey from getting any sleep. Now, before proceeding with our SiliDog update, let’s take a trip back to where it all started and how it went for Mikey in the Shark Tank. Business: Customizable 100% silicone silent pet identification tags. ![]() ![]() After landing a deal, you may be looking for a SiliDog update, if so, keep reading! Shark Tank SiliDog Silent Pet Tag Update The University of Florida MBA student eventually received an offer from all but one of the sharks present, before ultimately reaching a deal with Lori Greiner for $100,000 in exchange for a 30% equity in SiliDog, on top of a 50 cent royalty pet tag sold. SiliDog CEO Mikey Lickstein, who hails from Milwaukee, Oregon, headed to the Shark Tank in Season 8 back in 2016 to pitch his customizable 100% silicone and completely silent pet tags. ![]()
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